Chase Spending Data Updated Through May 20, 2026

Research evidence excerpt

Chase Spending Data Updated Through May 20, 2026

J P M O R G A N North America Equity Research

28 May 2026

Chase Spending Data

Updated Through May 20, 2026

Consumer Finance

Richard Shane AC

(1-415) 315-6701

richard.b.shane@jpmorgan.com

J.P. Morgan Securities LLC

We are updating our Chase Spending data through May 20. Data are provided on a

lagged basis and presented in a rolling seven-day format. The authors wish to thank Prakhar Rai, of

Beginning with our May 26th, 2026 publication, we are sourcing our Chase the J.P. Morgan Global Research Center,

Spending data from JPMC Index File 2.0, an updated and enhanced dataset that for contributions to this report.

replaces the prior Index File 1.0. The new dataset is built using more granular

transaction-level details, enabling us to expand our analytical coverage with

additional category breakdowns (e.g. by income level). As a result, readers will notice

a substantial increase in the number of charts and tables accompanying this report

going forward. As always, we welcome reader feedback and suggestions. We have

attached a schema of the full dataset as an appendix at the end of the note, allowing

readers to see the complete universe of available categories as well as those we have

selected to highlight in our charts and commentary. Click here for disclaimers and

methodology.

Key Takeaways: Total spending growth for May is roughly in line with Apr. Total

spending is up ~4.9% Y/Y through May 20, slightly below April’s figure of ~5.0%.

• Total spending was up ~4.9% Y/Y MTD through May 20 versus the same

period in 2025, with MTD discretionary spending growth of 4.6% running

below MTD non-discretionary spending growth of 5.7% (Fig. 12).

• Total spending excluding gas stations was up 4.1% MTD through May

20 (Fig. 19).